Business Brokering Process

Concord’s 10 Steps to Selling Your Business

  • 1. Plan and Prepare

    • Organize financial records

    • Clean/repair equipment

    • Normalize inventory

    • Begin capturing all processes on paper

  • 2. Retain Concord

    • Meet and discuss objectives

    • Discuss market and buyer expectations

    • Evaluate your financial needs post-closing

    • Execute Concord representation agreements

  • 3. Complete Valuation

    • Understand Valuation techniques

    • Determine asking price

  • 4. Business Profile

    • Detail historical performance

    • Identify growth opportunities

    • Build an attractive and accurate summary

  • 5. Market the Business

    • Develop marketing strategy

    • Maintain confidentiality

    • Manage your business while Concord markets it

  • 6. Identify Buyers

    • Interview prospective buyers

    • Obtain Non-Disclosure Documents

    • Arrange on-site visits

  • 7. Term Sheet

    • Obtain offers from buyers

    • Identify acceptable offers

    • Facilitate negotiations

    • Prepare for due diligence

  • 8. Due Diligence

    • Respond to information requests

    • Amend term sheet, if necessary

    • Help buyer identify financing sources

  • 9. Open Escrow

    • Coordinate with legal representation to draft closing documents

    • Review completed documents

    • Resolve remaining contingencies and third-party financing

  • Closing

    • Plan announcement to employees and other stakeholders

    • Sign documents, transfer funds and pay broker

    • Transition management to buyer

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